On August 28, Tongxing Technology (003027.SZ, renamed from 'Tongxing Environmental' in December 2024) disclosed its Investor Relations Activity Record, following a survey of the company by nine institutions including Shanghai Jiyu Private Fund, Shanghai Zhongjue Private Fund, Guoyuan Securities and Hua'an Asset Management on August 28.
According to the record, the company's general-purpose NFPP sodium-ion cathode material has passed five safety performance tests (crush, short circuit, nail penetration, overcharge and high temperature) achieving 'no fire, no explosion', with advantages of high specific capacity, long cycle stability, high rate performance, good compaction density and low cost; the high-first-charge S-NFPP material features high operability, high energy density and high cycling performance. In H1 2026, the company completed sample validation of its sodium cathode materials with more than ten downstream cell makers and maintained in-depth technical communication with several core cell customers.
On capacity building, the company's sodium business has a Phase I 20,000-tonne cathode material project under construction, adopting a 'overall planning, phased construction, rolling development' strategy, built as two 10,000-tonne lines built successively, with the first 10,000-tonne line expected to complete construction and start production in Q4 (subject to factory construction and equipment arrival). The project is funded by internal funds or bank project loans. The company said the sodium business will become its second revenue growth engine once the production line is completed. Tongxing's sodium layout is advanced through subsidiary Hefei Haosheng New Energy Technology (Tongxing Haosheng); in July, Tongxing disclosed a plan to invest CNY 60 million in Tongxing Haosheng to advance the 20,000-tonne project, and on July 28 Tongxing Haosheng's 10,000-tonne sodium cathode material project received environmental assessment approval.
'completing the 10,000-tonne line in Q4' is a company plan, with the company itself noting it 'depends on factory construction and equipment arrival' - delays are possible; sample validation does not equal bulk procurement; product performance, cost and commercial terms after mass production remain to be confirmed by customers.